Hospital & Healthcare Management May 7, 2024
Community Hospital Corporation announced its inaugural survey of community and rural hospital executives on financial resiliency issues impacting their institutions.
CHC’s comprehensive survey, completed in Q1 2024, found that most of the executives surveyed indicated their hospitals showed a less-than-stellar financial performance, impacted by economic and regulatory forces. Two-thirds of the respondents (69%) rated the financial health of their hospitals as poor or average. In comparison, 31% responded that their hospitals were in good or excellent financial condition.
In response to health industry challenges, respondents said a mix of expense-reduction and revenue-generating strategies were needed to bolster their hospitals’ resiliency. Adding services (70%) and reducing contract staff (69%) were the most popular choices for improvement, followed by physician recruitment (63%)...
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